good morning. today's top stories, the fed starts a two-day meeting. cyprus debates that controversial bailout and the global markets try to make sense of it all on tuesday, march 19th. apparently spring is coming. i know march madness is just about here. "squawk box" begins right now. good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. our top stories this morning,

the federal reserve will begin a two-day fomc meeting in washington. policymakers are widely expected to keep rates at record low levels. tomorrow, the fed will be issuing a policy statement and updating its economic forecasts. chairman ben bernanke will then hold a news conference and steve liesman will join us with the exclusive findings of the cnbc fed survey, coming up at the top of the next hour. the other big global market this morning continues to be cyprus. the parliament there is expected to reject the attacks on bank deposits. the decision would effect hely block a bailout and push the island nation closer to a debt default and banking collapse. it is possible the vote today won't happen if leaders are sure it will be rejected. as for the global markets this morning, the major equity indexes closing lower yesterday, in large part because of fears about that cyprus bailout plan. and it's on track to post its

best numbers of the year. >> the biggest corporate headline this morning is a weird one. lululemon is pulling shipments of some women's yoga pants from its stores. the athletic clothing store says the move is going to hurt its bottom line. they had an unacceptable level of sheerness, so you could see through them a little bit too much. that's the problem. the decision to pull the pants will be lead to go a shortage of its black ware. investors have not finding this funny at all. boeing landing an order for 175 next generation 737 airplanes from ireland's ryan air. the deal worth about $15.6 billion at current list prices. ryan air's ceo is going to join us live at 8:30 eastern time. that comes a day after airbus received that deal from lion

air, the other, for about $24 billion, guys. and citigroup agreeing to pay $730 million to settle a bond class auction lawsuit. the legal action was brought on behalf of investors who bought citi debt and preferred stock between may 2006 and november 2008. the lawsuit claimed investors were misled by misstatements and omissions in the company's closures during that period. joe, i've got to send it over to you, but do you still have lululemon? where do you want to start? >> are you wearing lululemon pants? >> no. i'm wearing see-through slacks today. >> this squawk-ward moment has been brought to you by joe kernen. >> you know you said it was going affect their bottom line? >> i was going to go there early, but i figured it would be tough to start this. >> i couldn't believe -- air anna is going to be on today and she wants to talk all yoga and is wellness.

it's weird. >> this plays right into this. >> it does. if you've got to do yoga, i like the idea of everyone wearing see-through fitting pants. don't you just sit there in the same position for, like, a long time? >> no. it's different positions and stretching. >> that's even better. i don't know. maybe it's bad. and i think it was $24 billion. and i was thinking, that's about a hundred million a jet, wasn't it? >> that was the list price. >> it was lion air that did that deal. >> yes, you're right. and it was one of the biggest -- i mean, it was a big deal, right? >> and also because boeing has been their airplane supplier. maybe they're making up for -- >> you did a column today, too, on cyprus. >> i channeled you. >> and arianna is greek. >> she may have views. >> she grew up nearby. there's a lot of relevant things

and the yoga thing. >> and she's bringing cookies, too. >> she is? >> yes. >> she put it on twitter last night. she was up late. >> i saw it was on the huffington post ask we appreciate that. anyway, india's central bank lowers its benchmark policy rate for the second time this year. policymakers are trying to revive growth, but warn that the scope for further easing is limited. the new u.s. treasury secretary is visiting china today. jack lew is meeting with china's new leader and lew plans to raise issues, including north korea's nuclear program. you didn't even notice. you don't care that i skipped his name, like you do. >> channeling me. >> learning from you. >> there's certain things. >> no word yet on whether he's going to stop in north korea and dance to michael jackson. >> did you see that? >> yes. i did. >> dennis rodman. >> deadin rodman and king jong

iii. i think that might mistake him mad enough. >> do we know what michael jackson song? >> no. i have no idea. ♪ >> thriller? >> we don't know. we don't know if dennis was in drag. we don't know whether they were slow dancing. all this is going to get us in trouble. we've just been blacked out in china. anyway, china's exchange rate controls sigh better spying and president obama leaves tonight for israel. no major policy breakthroughs are expected. this is the president's first visit to the west bank since moving into the white house. i think he was there maybe before becoming president. why don't we take a look at the markets this morning. down day, up day, down day, futures are barely budging. dow futures up by less than 2

points. s&p futures up by less than one point. yesterday, it was the biggest losses. financials led the decline all day long, but in the afternoon selling picked up in energy stocks, materials, consumer discretionaries. if you're watching oil prices this morning, you'll see at least at this point they are down by 16 cents, 93.58. the ten-year notoriety now is yielding 1.942%. let's take a look at the dollar this morning. you'll see it stronger against through at 1 is.2933. the dollar/yen is 95.35. the dollar up across theed board, except weaker against the pound right now. gold price ves barely budged a little weaker, down 2.60. $1,602 an ounce. >> it's now time for the global markets report. we're going to go across the pond to see kelly evans too give us an update on what the heck is going on over there. wa is going on over there? >> i can tell you, it's called plan b. if markets didn't like plan a,

there might not be much to like the plan a. it's the cypriots that won't like this. it appears from reuters reviewing copy of a parliamentary draft, what the company is now going to do is try to exempt depositors with less than 20,000 in the bank entirely to those under 100,000 and to keep the tax at 9.9% for those above 100,000 euros in their accounts. if it doesn't sound much different from the original plan, it's not. it basically exempts those with less than 20,000. on the back of that, we did see markets weak. elsewhere, there has been a weakening, but realively contained one. the ftse mib in italy is down 0.3%. the xetra dax is down by 0.5%. france is weaker. the ftse, as well, down about 0.25%. not too far off the levels we've seen this morning. german economic sentiment did come in roughly in line with expectations, so that helps to keep the bid in the euro, as

well. here is the different between spain and italy. italy's ten-year selling off a bit. yield up to 4.66%. spain rallying. it did go to market with three nine-month yields this morning. still below 5%. i mentioned what was happening with the euro. let's take a look now as it continues to go through the different pieces of economic data we're getting this morning. it's still down about 0.11%. yesterday, it was actually stronger. so markets generally speaking, i have to say it seems to be coming down between greece and cypress, but much less hard in terms of the broader contagion fall out across the eurozone. we know the cyprus banks and the stock markets are closed today. not going to open until thursday and potentially not until a couple of days later. details are fluid on the situation, but we can tell you that this plan b doesn't look a heck of a lot different from plan a. we will continue to talk about whether it meets tonight for this vote to pass the bill and

whether that does anything to make it likely that it will pass. don't hold your breath. back over to you. >> kelly, i'm still thinking about this lululemon thing. >> because he made me watch this thing yesterday with cathy lee and hoda. >> oh, yeah. >> talking about the grooming. but i'm wondering, why would -- do men wear yoga pants, lululemon yoga pants? i thought you had a pair. honestly. >> those aren't yoga pants. i have some liululemon pants, bt i don't have yoga pants. it wouldn't matter -- what would you say? >> crack. >> you say the crack is. i think it would be best if you were not groomed, waking around with just -- you know, you just -- right? >> i don't want to see it, anyway. it's a bad idea all the way around. and you were the one who told me

that you couldn't wear -- >> it would be all -- right? >> yes. >> that would be -- did you watch the whole hoda -- >> i watched a couple minutes of it. >> it was very funny. >> she's hilarious. well, i could be fun fee, too, if i had some wine every morning. have we thought about that? >> no. the days that we've tried that, it hasn't gone so well. >> i think these people drink. they must. in washington news, the senate is closer to passing a bill to avoid a government shutdown to fund agencies through september 30th. senators voted 63-35, in case you're wondering, to limit the debate o legislation. a final vote on the bill could come as early as today. it would be sent to the house for final approval this week. we're going to talk more about the financial issues facing the country with fix the debt. mark burtolini is the ceo and

chairman of aetna. >> he said they've -- i think they've done some layoffs. the layoffs were set in place. >> will you combine the white house -- you know, those were shut down with the easter egg hunt. didn't you go on that one year? >> yeah. >> it's starting to dig. it's start to go cut. >> why are people so outraged? >> about the easter egg hunt? >> come on. >> this is one of those things you're not supposed to comment on, right? >> i love easter. >> you really do? >> but you don't have to have it paid for with taxpayer dollars. >> i love the eggs and hiding the eggs. >> it's secular. >> it's in that category. >> you know what it represents. >> it is. >> my birthday is number three, the epiphany. you just like the -- you like santa, you like the trees. >> i consider these classics,

almost, american holidays. >> i've been sitting next to you for how many years? the lululemon rabbit hole. i can't believe i followed you down and then i played on. >> the crack you see from the shape, from the morphology. the only thing that would matter if you could see through it would be the grooms aspect. >> no, if you're down downward facing dogs, trust me, you've got some issues. >> are you calling me a dog. >> no. it's a yoga pose. >> i thought you were doing the randy thing. >> no. this is a yoga pose. do you know the downward dog? >> downward facing dog, yeah. >> is this like a komasutra thing? >> no. it's a yoga pose. i'll show you. in technology news, a computer haeshg has been sentenced to more that's three years in prison for stealing the personal data of about 120,000 ipad users. the man was convicted of i.d.

theft and conspiracy. abc news anchor diane sawyer, rahm emanuel and harvey winestien. prosecutors argued that prison time will deter others from hacking people on the internet. the industry group telecom prevailed in arguing against cyber security recommendations. industry experts say that prescriptive measures would hamper innovation and expose companies to being sued if their networks get hacked. another ceo is resigning and releasing a mea culpa. this is something. john bricatelio is stepping down march 30th. he had been on the job for more than six years.

in a letter, he says the following. the decision to leave is, quote, really all about my accountability for the short comes in our financial results this year. currently looks like we will come in at the low end or absolutely below the financial guyance we issued to the street and we have fallen short of our internal operating plan we set one year ago. and for that, i am 1100% accountable. the video game giant warnings that it expects revenues and can earnings to be at the low end. shares falling in after hours trading, but that memo in some ways -- maybe not as funny as andrew mason's letter, but in a similar category. >> certainly not as well known a ceo, right? >> it's the first time i've ever seen it. >> but probably a better known company or a more successful company. >> i don't know. they've been in the news a lot. >> only because of the ipo. one small market cap, the

thing is, this company didn't used to have a small market cap. affymax shares are down another 75% after falling off their october highs. it had to do with sigh effectes from a dialysis drugs which is going to compete with another drug. the company will cut its workforce by 75%. that's serious layoffs. it's dealing with an investigation involving its flagship anti-anemia drug which it recalled last month following reports of several allergic reactions which occurred at much higher rates than if side effects on competing drugs. these are in kidney disease patients that when you get dialysis, you do get anemia, your red blood cell count goes down or something like that and you might as well use the one that's been around forever and it's much safer.

there's been at least five deaths reported. coming up, the central bank, we're going to talk about the fed, bond buying and its exit strategy if it ever decides to have one. first, as you head to break, here is a look at yesterday's winners and losers. ♪

welcome back to squawk this morning. let's get the national forecast from the weather channel's eric fisher. good morning, eric. >> good morning. talking about another winter storm here. it's the last day of winter wsh allegedly, but we're talking about snow coming down here all across the northeast. these other systems can be working there way through throughout the course of today. is this the right source here? we might have the wrong source called up. max three. there we go. snow falling across northern new england, northern newark. new york city, it is rain from here on out. take a look around boston. this is where we've been focusing in. another 3 to 5 inches on top of

what you've seen. some reports of up to 7 or 8 already in and around boston. north and west of town, higher totals expected. travel will be difficult. if you're a skier or snowboarder, you are happy. over a foot of snow. then we have the lake effect machine behind it. 12 to 18 inches of snow behind it. grand rapids, plenty of snow. we'll see more accumulation off of lake michigan and superior. 12 to 18 in the u.p. 8 to 12 around traverse city. if you're traveling, it's the northeast. boston delays today. new york a few with the clouds and the rain showers clearing out in washington, d.c. back to you guys in the studio. >> people complain. we get no snow last year, they complain. i just want to give you some kudos. you were on nbc last night, weren't you? nbc news with brian williams. >> yes, sir. yes, sir. >> and you know what? he does not -- he's just the same. he is -- sleeves are rolled up.

>> still working hard. >> even with the great brian williams and you are still yourself. you don't get all buttoned up. because he's a working guy. like we do here. >> i am. i am here for you guys. and you know wa? you mean that literally because i didn't change for last night's nightly news. >> i did wonder about that. because you had a white shirt on with the sleeves rolled up and i watched you on brian's show last night, didn't you? >> and i slept for 3 1/2 hours, come right back. >> are you doing the walk of shame today, fella? you didn't go home last night? >> there's no shame in this game. i went to work here t weather channel at 1:30 in the morning. >> that's a proud walk, not the walk of shame. thank you, eric. say hi to wolf reynolds for us. >> reynolds wolf. >> reynolds world? >> either way it sounds good. >> it's good to have a name

where it goes -- it doesn't really matter which one you do first. sometimes they put your last name with a comma and then your first name. michelle gerard, chief u.s. economist at rgf, kevin ferry of cronus futures management. michelle, what we finally decided yesterday was the fed gets more cover to keep doing what it's doing. just about anything you can turn into a positive when you have a fed -- >> exactly. that's exactly right. bad news that undermines the equity markets and in the sense of saying, well, the fed will end up editing to keep rates lower. >> even if the contagion doesn't hit europe and it doesn't come here, it's just knowing -- >> that's the down side risk against the fed in an accommodative mode, not quick to pullback whether we're talking about hiking, layoffs or what's the more pressing issue in the marketplace is how soon they may cale back on their purchases. that is now off the radar screen as people are more concerned about europe, the sequester.

all these things which will keep the fed in a very accommodative mode. only the make sure they have the support. >> 27 places to keep the fed going. to give ben cover, right? >> not only in europe, but, again, even domestically. i would tend to agree with you in terms of the sequester. it very much may be overblown in terms of what we end up seeing. but nonetheless, that's something the fed is very watchful of. even domestically, we give the fed all sorts of reasons with the the mess in washington to be the adult in town, if you will, by at least providing support where they can. >> you didn't have tickets to the easter egg hunt did you, kech, at the white house? >> i didn't. i didn't get invited. >> you weren't invited. that may fall by the wayside. what were you talking about yesterday? you sent me another insecretble message yesterday about something. why don't you explain it now, what you were trying to say?

>> i think that i was just getting at the fact that, you know, just a touch. the positive side is at least we have a very, very steady hand on the tiller where, you know, over there, they're obviously just winging it. and so the currency markets are calm this morning so far. i think that's, you know, the first positive. that's where the volatility starts. but, you know, i think that i would point out that two things to look for here from the fed is, one, a more unified message that you saw after the last meeting there was quite a bit of various opinion about what they should be doing. so they might tighten that up in the speeches and talks after the meeting tomorrow. but other than that, i think that you see that they have to remain very steady while these other countries kind of muddle through. and the real lesson that i was getting at was my e-mail to you yesterday about cypress is that this is just a friendly

reminder, that this is going to be a very ateen ewated process and it's not going to end with the votes for them, it's fought going to end when the banks reopen. this is going to be years and years for them to straighten this out. >> there's a comment coming to the head of the central bank in cypress right now saying that the emergency funding won't stop immediately. oh, and by the way, he expects deposits to return to the company when confidence returns. it's probably years before something like that happens. right. >> but nobody seems to care any more. yesterday, everybody was hyperventilating. >> no. i think it still matters. it may not matter for the market's immediate reaction, but i think it still matters for the eu going forward. >> i'm surprised. i have to tell you, i'm surprised. yesterday i felt the reaction was fairly muted given what i thought was a very serious development. i think this is almost as unprecedented action. i think -- even know they're talking about trying to change it. i mean, i think the damage has been done and i think the

ramifications of this, you know, could end up -- i mean, i'm not sure we can feel confident that we won't see a deposit play in the end. i think time will tell whether or not this is a more serious development than the market certainly even yesterday. >> when you say deposits, are you talking about deposits from cyprus or spain and england. >> that's exactly right. i'm not sure that we can rule that out. this is something that we've got to be watching very carefully. >> i'm in the camp that actually it's not as important. >> and i would just say also, you know, to be a little more cynical is that negative interest rates are just a different -- and inflation are just a different way of confiscating savings. so we just do it a little differently here. so this is -- the bull's way is for them to do it outright. >> i was going to say, i think -- >> we'll see what happens over time. >> it is a reminder that the

european thing was not over. .whether this is the end or not, this is the complacency that we thought was there a couple weeks ago is not there. >> kevin, thanks. we'll see you. when we come back, the energy indicator. we have the chief economist for oil giant bp joining us on set. we will talk about supply, demand and what crude prices can tell us about the broader economy. stick around. ♪ ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement.

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good morning. welcome back to "squawk box" here on cnbc. i'm joe kernen along with becky quick and andrew ross sorkin. u.s. equity futures at this hour

after giving back about 62, well off the lows yesterday. indicated that a bounce a little, but a time can happen between thou and 9:30 on the east coast. there's energy, you see crude is around $94 or so. it seems like it's been anywhere between $90 and $95 for months and months. steve liesman joins us on set with a special guest. who do you have? >> i have krzysztchri christofft et means for global prices and economics. let's go piece by piece. let's talk about demand and supply, which is on its own track, and what happens to supply. how much oil is going to be produced here in the united states over the next few years? >> it is going to be big. it is big already. if you look back five or six years, the u.s. imported more than 12 million barrels per day. last year, they were down to

7.5. this year, it's probably down another million. so that is fallen by half in five or six years. most of that is domestic production. a little bit of biofuels. >> explain what tight oil is. >> we had shale gas, and hot on the heels of the shale gas revolution comes tight oil. >> embedded in the rock where the gas is and they call it tidal part because it's hard to extract. >> so you go in with horizontal drilling and hydraulic fracturing. >> bring us to 2020. is america still importing oil? >> wengs, but much less and if i go for a little bit, then the u.s. as a hole will become close to energy self-sufficiency. it's already a coal exporter. but that oil is probably from countries like mexico and canada

right next door. >> so there are massive political implications. is a u.s. president 20 years from now going to care what's happening in saudi arabia and israel? >> that's right. this is one of the things changing the grounds of the debate as we know it. you have china becoming the single biggest importer. we have the u.s. become ago small importer not necessarily needing the middle east. oil is changing. so i, to your question, have no problem visualizing a president years from now saying, oh, there's trouble going on, no skin off my know the nose. so there will be less interest years from you from now? >> oh, we don't know what will happen. >> all of a sudden, tides does

what? it doesn't run massive account deficits, we're not shipping as much joe seas? >> when people think of the economic situations, they think of the u.s. but what it will do, it will cut into the u.s. deficit and it will cut into the chinese surplus. and you ask the average economist for the last three or four years before the crisis, during the crisis, after the crisis, what's the global economic problem, number one, the answer probably isn't microimbalances. trade surplus in the u.s., trade surplus and china. what i didn't know is that still more than half of the u.s. deficit of goods and services is energy imports. >> and that's going to go away? >> as things are going, that might be going away. at the same time, china surplus will suffer from the tracing of independence of china. >> that's strong dollar weak yuan. becky. >> just an observation. >> first, tight oil, i haven't

heard of this before. i know where the marcellus shale fields are. where is tight oil? is it in the same sort of locations? >> same. traditionally, coming out of gas yields because of this huge different between gas and oil prices. which went up from almost zero to more than a million barrels per day now within five years time. >> does cyprus have any oil? >> cyprus has probably gas offshore. >> gazprom will bail them out. >> and you can imagine with cyprus and israel, it's an interesting discussion. >> christoff has an article in the in you "new york times" which says effectively government policies unleashing the market that leads to shale oil and gas production in the united states and not elsewhere. there are these other formations exist in other countries, but unlike the u.s., they have fought pursued the policies. how important are politics to production? >> this, i think, is one of the

most important aspects of that. the question of where these resources will be developed, at least will be as much dependent on policy as resource distribution. they have to ask with a good starting point is look back the last five or six years. where does the most oil production come from? from two countries, u.s. and is canada. that is a good question. >> so what happens to price, ch ri stof, in all this scenario that you have? do oil prices collapse? >> no, we don't think so. if i knew the answer, i would be sitting on a sunny island, not here. >> no. >> but our best guess is in all markets, nobody would suspect if production goes up, price goes down. >> and so in oil markets, your question translates pretty seamlessly in how we'll react to that. and the bottom line is our best guess is we think they're willing and able to cut production. >> the latest on keystone is there's no reason to do it now because it's all going to be

exported. god forbid if we help our trade. >> who wants to export? and the idea that you're going toned oil production but not build in this pipeline is silly. >> who wants to export from here? >> we are in agreement on that, joe. >> so you transfer it in the gasoline. >> thank you. coming up, treasury secretary jack lew traveling to china today. we're going to talk about the issues on his agenda and why you should care all about it. we're going to talk about that when we return.

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welcome back to "squawk box." jack lew is in china today.

joining us, steve step non his. good to see you this morning. >> how are you doing? >> let's talk about jack lew's trip to china. i'm interested in how he brings up some of these sensitive issues. so on cyber hacking, for example, what is it exactly that you say to the chinese, given that their position so far is that we have nothing to do with it? >> good question. the real purpose for this trip is what they feedback to the people here and is to china. the u.s. has got to look tough. so we have to look like we want an answer. the chinese has to look like we're a peer of the u.s. now, we don't have to be bullied around. the cyber security is one of those issues that will give that opportunity to talk about. and the chinese really have nothing productive to say officially about that. it's very clear that hackers in china is a very big deal.

to what extent, it's official and military involvement, nobody really knows. but i think they're going to spend most of their time talking about economic and trade, currency issues rather than security issues in any case. >> on the very tough issues on things like cyber security, are there two conversations that happen? is there a public conversation where jack lew, you know, try toes beat him over the head and they try to push back and then a separate private conversation where there's a little bit more of an open sort of honest discussion or does that never even really get there? >> no, no, that is true. and that is what happens when you get a personal comfort and knowledge of each other and the officials. that's why it's so important to have lew there visiting with his counterparts. he'll she's xi and li, but his real job is to visit with the new finance minister and that's where many of those issues will be discuss ed.

lo giwae has been around. he knows the issues. so i think they'll have a good discussion. and the payoff for this meeting will be this meeting, not the one after or the one after. he'll know lo giwae, for sure. he was running cic when it first came out of the box when they did their early investments. he's traveled a lot in that. i'm sure they will have met. i'm not so sure the other two gentlemen, xi jinping and li keqiang have not been traveling as much because they've been senior leaders during that time. >> if there's one thing the chinese have to do or to get out of this meeting this time around as opposed to building the relationship for the next meeting, what is it? >> i think it's understanding the agenda of the new chinese

government. you know, they had just gone through a change of power that is a real one. this is a shift from the hu jintao group, which are in china known as the technocrats to the jonximin group. he came back and these new leaders are part of his faction. they are really interested in economic reform. so i think this new government is a real plus for changes in the chinese government that will be a big advantage, especially in the economics in the area of currency convertibility. i think you're going to see a lot of opening up of the chinese capital markets over the next coming years. >> and is on that score, if you're lew, how do you approach that issue, currency? >> well, the u.s. has always been pressing for opening of the capital markets, partly because the u.s. represents have had backing from wall street and the investment banks. but now, the chinese have a

reason to do it on their own. they have $3.5 trillion worth of foreign reserves. they have to find a way toni vest those assets over the coming decades. they have to be invested in other countries in order to not put pressure on the currencies, which means they need cooperation of government. the u.s., in turn, needs the chinese government to continue holding the debt that they own and, as we can see from projection would be to buy a lot more of it. i think both of those things will happen. but currency, cop veteranbility, m&a activity here in the u.s. and then europe, capital coming in and so forth, those are things that are in both country's interests right now. >> john rutledge, thanks for joining us this morning. >> pleasure. >> coming up -- do i do it? >> sure. >> do i do lew whenever i talk about him? lew! is it worth it? you know what that is. anyway, mary tyler moore?

we've discussed it. >> oh, okay. yeah, all right. but i do it with lou brien. i can't do it every time we talk about treasury secretary. >> but you could whether you talk about lululemon. >> lululemon. > ming, at the top of the hour, a woman who has achieved plenty of success. we're going to welcome arrianna huffington. it's out now. there is tiger woods with lindsay vonn. i want to say something. we got back and the cypress thing, i was unable to say anything about my ski trip. so i just want to show you something. i know if you look at this, i could have turned right or left and not gone down this slope, but that is a downhill course, a double black for 2015 for the world cup. and i did -- i got to ski bengally, my zen master, mark

rimaldi, i can finally do the pitch. i finally lean into the mountain, stay perpendicular to the slope. but this lindsay vonn is a stud beyond belief. she gets down -- they go down these things in a minute and 30 seconds in a tuck and i think i understand why someone like tiger -- i mean, he can get a lot of pretty girls, so that's not what it means. they're both such incredible athletes, i think that that brings people -- that explains sort of the relationship, why he would consort with lindsay vonn. can you imagine? you ski. >> yeah. >> they go off the edge, they go 70 feet on these things. >> she's very attractive, as well. >> i don't know how you practice that. that's what i said yesterday when i heard you did this. if you mess up -- you can't be a passenger on your skis. you need to be the pilot of your skis. >> i understand that, but i

can't follow through. >> i know all these expressions now. at the greatest resort for skiing, it's beyond belief. that's the only way you get a ski vale. i didn't get to do it yesterday because of some island in the middle of nowhere. >> that was a golf course. by building custom security solutions that integrate video, access control, fire and intrusion protection. all backed up with world-class monitoring centers, thousands of qualified technicians, and a personal passion to help protect your business. when your business is optimized like that, there's no stopping you. we are tyco integrated security. and we are sharper.

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only hertz gives you a carfirmation. hey, this is challenger. i'll be waiting for you in stall 5. it confirms your reservation and the location your car is in, the moment you land. it's just another way you'll be traveling at the speed of hertz. the dow on track for its better quarter in 15 years. >> market history continues. >> and if history repeats itself, that means strong gains for the year. >> the longest winning streak for the blue chip since november 1996. >> to see where the markets are heading now, stay with cnbc. >> you guys are really well informed. i'm impressed. and stay one step ahead. welcome back, everybody.

our next guest is cheryl sandberg. they give women in the workforce what they need most to succeed, mentorship. joining us is caroline. >> thank you for having me. >> let's talk about how you came one this idea. you graduated from stanford back in 2008. >> yes. >> you got out in the business world. what did you notice? >> so i moved into management consulting. and i quickly learned there were unwritten rules in the workforce. so people had access to sponsors, mentors, friends willing to share advice progressed more quickly. and et second part of that was that there was a sort of crisis of confidence. so i noticed that over time my peers would disproportionately lean out of the workforce or feel uncomfortable asking for a

raise or applying for a difficult fellowship depending whether or not they had access to a mentor. so i quickly started to understand there were intangibles that needed to be provided to really celebrate the success of people in the first 10 years of their jobs, the critical years. >> when you can forge ahead, make some real progress towards getting there. >> exactly. >> so tell us how you started. >> so my co-founder and amanda met on our first day at work. and we started to peer mentor each other. and i highlight the importance of peer mentorship because we traditionally talk about having a vertical mentor, a sponsor who is someone 15, 20 years ahead of you in the workforce. but i would never underestimate the power of having someone alongside you in the trajectory. amanda and i mutually encouraged each other. we finally after three years left the firm together and

really wanted to apply technology to solving some of the key issues that gen y was experiencing in the workshop. we believe access to three things leads to success. we have a job board where we provide access to amazing opportunities across industries and company types. center start-ups to nonprofits. we have a future job on twitter. we have another job at teach for america. so that's the first component. because without that job we can't really get you on the right trajectory towards success. and the second component is access to peers and mentors. so building a professional network where our members can connect with either peers online or offline or mentors mostly online for now and ask the questions they need answered and really tap into that shared learning of thcommunity. and the third component is just advice. so encouragement, advice, shared

stories. this is how i negotiated a raise. here are some tips on how you can do so and so forth. >> how many members do you have right now. >> so at the moment we're very quickly growing. so we really hope to capture the full 8 to 10 million person audience by the time the year is up. >> so you expect to be there by the end of the year? >> we do expect that, yes. >> you have big backers. are you going to take it upward and launch an ipo? >> well, we'll have to see. start-up is very quickly evolving thing. at the moment we're really focused on our product and building the best possible network we can and we'll take it one step at a time. >> caroline, thank you for coming in. we wish you the best of luck. >> thank you for having me. ben bernanke said to hold court today. one of the most interesting fomc meetings in years.

what do you think, andrew? that's not a high bar, is it? anyway, from europe to the central bank's exit strategy on the table. our findings. yeah, this is coming too. our exclusive fed survey. check out the u.s. equity futures. tomorrow, "squawk box" will keep you up to date on the banking crisis in cyprus, the smoke signals from the fed. plus, the squawk ceo call is in session. our special guests. "squawk box" starts tomorrow at 6:00 a.m. eastern. [ kitt ] you know what's impressive?

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>> >> europe, the fed and your money. a unique perspective on what's moving markets with huffington post co-founder arianna huffing ton. the fed in focus. we reveal the exclusive results of the survey, talk cyprus and what it means for the economy. today's matchup features two powerhouses in the global market. can which will give investors a better return? we ask you to vote as the second hour of "squawk box" starts right now. ♪ >> good morning, even. welcome back to "squawk box" on cnbc. i'm becky quick. and the futures this morning have been relatively flat.

right now the dow futures are indicated higher. up by nine points. in our morning headlines today, a controversial proposed tax on bank deposits in cyprus appears set to go down in defeat. it caused widespread backlash. but it appears unlikely that it will pass. trading on the cyprus stock exchange has been suspended ahead of the vote. and the country's banks will be closed until thursday. ryanair is buying 175 boeing 737-800 jets. the order means that ryanair will increase its size to about 400 jets. and a two-day meeting today in which they are expected to hold current policy intact. the fed issuing its latest statement as well as updated economic forecasts, followed by

ben bernanke's index. >> fears of the cyprus bailout plan, the dow lost 62 points. boeing and disney among those dragging done the index. still, the dow remains on track for its best quarterly percentage gain since fourth quarter 2011. s&p still up 9%, on track to post its best quarter in a year. let's check on the european markets ahead of the cyprus bank tax vote and see what happens there. you do have red arrows. cac off 1%. i thought it would be worse at this point but i am wrong. we will keep you apprised of all the latest developments out of cyprus. mr. lew just finished his meeting in china. >> that you are leading him to discuss. cyber hacking. >> all of that.

i just got an e-mail from tim spokesman -- not tim anymore. mr. lew spokesman who said we just finished the meeting. >> i wonder if he saw the "60 minutes" piece? i don't know if i would call him an enabler but he has never seen the dark side. >> if part of your business is china, you do not see the dark side. or at least you do not discuss the dark side. >> i bet he saw the "60 minutes" piece. >> we have a variety of topics starting off with the greatest confidence in europe. arianna huffington. i know you're greek and cyprus is somewhere near greece. we can talk about it eventually. i want to talk more about what you're here to talk about and this is a holistic approach to

staying destressed at work, wellness, and health and everything that's involved. and i want to start this way, though. i was is he sandberg book party with you and the mayor and welcomed her into the book party. when i was thinking bit, i was wondering how do you feel about mayor bloomberg's efforts in terms of almost a state-mandated way to get well? is that what you think we need to do here or can it be done in a private sector way where you realize wellness is good for productivity? were you with him on this soda thing? >> i was with him on that? >> why? how? >> because obesity is becoming a huge epidemic. health care costs are becoming unsustainable. 75%, 75% of our health care costs are for preventable chronic diseases. even if we didn't have a fiscal crisis this would be unsustainable. i agree with you the private sector has to take the lead.

>> individual responsibility. here's what i see. i see if bloomberg feels like he has to take responsibility for everyone's health because he has to pay for it under some type of single payer where it will be the government's problem and no one takes care of it because they're getting it for free. i love salt. i love my carbon footprint with my jet as i go to bermuda. but no one else can do things these. i'm going to decide what everyone else -- that's what irritates me. >> here's what we can agree on. 25% of corporate america is introducing something about yoga, meditation. >> that's good. >> i'm not just talking about google and silicon valley. i'm talking general mills. general mills, outside minneapolis, you have executives walking into meditation and yoga

class in the middle of the day. he himself meditates. look at him. he's radiant. >> you did the juice fast. >> i thought you were pregnant. you're glowing. >> bob roth, david lynch foundation, taught ray galio how to do meditation. it was amazeng. >> a different david lynch? >> actually not. >> it is amazing. i'm a total skeptic. i thought i was going to sit there and do this mantra stuff. >> how long did you meditate for? >> 20 minutes twice a day. >> did you ohm. >> i have my own mantra. >> you can just use your breath. it doesn't matter. >> corporation wants to increase

productivity, want their employees to be healthy. city hall. >> here's the thing. city hall is not telling you to go and meditate. >> it's telling me not to have a 16 ounce soda. that's absurd. warren buffett -- how long has he been living on 2800 calories? if he wants to have a cherry coke, god bless him. this is insane. >> but they end up in our emergency rooms. even if you don't have single payer health care you pay for it. that's the thing. >> and the health care cost inflation is -- >> it's huge. $300 billion is what stress is costing corporate america right now. forget the touchy-feely wanting people to be healthy. start with the bottom line. >> how do they look at the

bottom line? >> productivity, sick days, long-term health care. when everything is changing quickly we need someone who can think clearly, who can innovate, make good decisions. if you look around the world, something is very prominent. you have all these brilliant leaders in finance, media making terrible decisions. it's not because they lack iq. it's because they lack wisdom. we need to reconnect with a part of ourselves who knows what's right and what's wrong. that's missing. >> the interesting thing is that corporations are buying into this as well. they see the value in it. they are willing to put some money into it so they can fix some of the problems. >> general mills, aetna, target. they have two nap rooms. >> people should exercise. get the endorphins going.

>> meditate. >> mine question is a culture question. most people think you want to look at work. space time. you're supposed to be there. how do you change a culture where you say my training appointment, my gym appointment now. it's 11:00. i'll be back in an hour. that's a very hard thing to do at a lot of companies. >> it starts at the top. >> but that's a very hard thing to do. >> but it's happening. especially when a lot of companies are bringing it in. we're having a new office designed in washington. it's going to have a yoga room, meditation room, a nap room. i promise you our workers will be more productives. it's not how many hours you're at your desk. it's what are you doing at your desk. >> you see marissa mayer at yahoo! saying you have to work

at the office. this is no longer being able to commute. it important to have face time in the office? >> absolutely it is important, yes. key is you can work from anywhere. when do you stop? it's the 24/7 nature of work. >> i saw you tweeting at 9:30. >> 9:30 is not midnight. but look at erin collin and all the interviews she gave. cfo of lehman brothers. she talked about how her life had been unsustainable and her marriage collapsed 24/7. what she didn't mention is in her something, something was missing. if she had been more alert, less exhausted, she would have noticed the iceberg about to hit the "titanic". so i want to focus productivity, the bottom line decisions at work. >> there's a lot that goes into

that. >> didn't jo directory promote -- >> she was ahead of her time. >> she could have meditated the rest of her life and it still wouldn't have changed what happened. >> she still would have said art stone is fine. >> i think there was a lot of other pressures beyond her lack of sleep. >> lack of confidence. >> okay. the bottom line -- >> at the wrong place at the right time. >> you know more about erin colin. >> start. arianna is here. >> i'm being told we have to wrap. was it her fault she was promoted? you could fault her. >> would she still be around if she was meditating? >> no. >> you know what's tkpwrbgood,

arianna, you have the nerve to say sugary soda might be a problem. do you have any ideas what's in this piece of baklava? >> they're made with honey. they're tiny compared to your 16 ounce soda. >> i'm told we have to run. shoot us an e-mail or follow us on twitter. @squawkcnbc is our handle. the fed's two-day meeting. >> you're only allowed to have a half a one. >> did you bring a knife? >> they're so good. >> no better time to reveal the fed survey. that's coming up right after the break. always remember check out our facebook page and vote on the squawk money madness poll. you can do that right now. we'll talk to you soon. the american dream is of a better future,

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welcome back, everybody. take a look at the futures this morning. we have seen some modest green arrows at this point. right now dow futures up by 18 points. they have been building through the course of the morning.

right now dow futures up by close to 19 points. we have another ceo resigning and releasing a mea culpa. john ricotello is stepping down. he says in part the decision is leave is all by my accountability for the shortcomings this year. it looks like we will come in slightly below the financial guide answer we issued to the street. for that i am 100% account. so another ceo who is stepping up and saying i'm leaving because of poor performance at the company. the video game giant warrants that it expects earnings to be at the low end or slightly below previously issued guidance. and the shares in after-hours trading were done. >> federal reserve kicking off its two-day meeting today. we have the latest as a result of the survey.

steve steve liesman is here. >> when is the fed expected to stop buying assets. let's look at the first chart. what was expected in january was for the fed to purchase $858 billion in assets. it works out to 76 billion a month, which is below the $85 billion level. i think there's a reason for that that we will show you in a second. the next thing i want to show you is this elaborate thing we created, the fed timeline. and i want to show you how the key points of what is expected from the federal reserve has changed. let's start with when qe is expected to stop. that's moved from here down to here. so they have pushed it ahead from november all the way to may. how about the next thing.

when they are to stop tapering purchases. it's gone from december to january. these two things have been pushed ahead. the fed's timeline has been expected. how about fed fund hikes and selling assets. the exit strategy is all the way out here into the first quarter of 2015. first, selling assets has come back a little bit. i have to say there's other data we have showing there's not much expectation for selling assets. how about hiking the fed funds rate? that remains, according to our 54 respondents to our survey of first quarter of 2015 phenomenon. let's move on and talk about wherewith the economy in the federal reserve will hike interest rates. and that's right here. 6.8%. when will it do the 6.7% will be the unemployment rate. and inflation rate is unchanged. pretty steady expectations. when these metrics are when the market expects qe to stop.

i want to look at the affects of this. what affect do they think qe will have? 48% say it won't lower mortgage rates. 48% say it won't lower bond yields there's agreement by 75% that it will hike the stock market. we have coming up at 8:00 what our respondents on wall street think about washington, the sequester, deficit reduction, all that fun stuff coming up >> steve, thank you. this is a big meeting. tomorrow, hearing from the chairman himself, that's a big deal too. happened from the last time he addressed questions like this. >> and new economic forecasts should tell us when the federal reserve is looking for those unemployment triggers that will change policy. remember, they're not on a calendar date schedule anymore. they're on an economic target schedule. that means we're looking for 6.7, 6.8 according to our

panelists until -- when qe will finally stop some thank you. >> have some baklava. >> i did. you think i'm talking 100 miles per hour because of the coffee. no. it's from the sugar in the baklava. >> american express was the first company to institute a two-week vacation. but they asked to have the whole two weeks at once. >> they were smart about it back then. now people take a day here, day there. when they first started a paid vacation they decided to take it altogether because the productivity increased. >> how long ago was this, steve? >> i think it might have been 1920. i know it was 1920 that the

first paid vacation happened. >> the tv business is hard. >> what do you do after the first week? you can finally detox, right? you get the willies out. i know how you are. then you have a week to relax after that. >> in general. >> you too? that's the first time you have done that since i've known. >> you we did 10 days when we went to europe. >> right. >> you had your daughter with you and wonderful wife. >> and you get to the point where you can sleep on a normal schedule again. if you're gone two weeks you're not waking up at 2:30 every morning. >> in cyprus, just tying it altogether, they have baklava in cyprus. >> absolutely. do you know what's amazing?

do you know the name of the head of the central bank of cyprus? >> no. >> can you imagine the name of the central banker is hispanic. >> we should have had our audio ready with a rim shot on that too. >> there we go. >> when we come back, we'll talk about whether easter spending could see a haircut this year, get it, hare. results of what it says about the states of retail right after this. ♪

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80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >> >> welcome back, everybody. americans are looking for ways to celebrate the upcoming easter holiday without break the bank as the cost of living continues to climb, many will celebrate east other a budget. the average person will spend just slightly over $145 on easter goods. that is almost exactly the same as last year. that's a lot of money.

survey found the vast majority goes to food for a family brunch. 63% of consumers will visit discount stores, while 40% will shop at their favorite department store. coming up, more from arianna huffing ton. a kinder, gentler ceo. that leads to a better job performance. bill george, former chairman and ceo of medtronnic. ♪

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welcome welcome back to "squawk box". the government housing starts report for february. it's expected to show a 1.6% increase from january to annual rate of 904,000 units. boeing technical workers approved a new four-year contract, the same they voted to reject a month ago. they made no recommendation this time around. and we are still a waiting a

vote from parliament in cyprus. it is expected to reject that tax on bank deposits that was part of a bailout reached by european leaders over this weekend. we'll see what happens. andrew, back over to you. >> thanks, becky. arianna huffing ton. we talked about sleep. not a lot of sleep going on in cyprus. do you have a view? >> i think it's a terrible decision. >> i don't think it's a terrible decision. i just don't think it's the end of the world. >> many decisions are not the end of the world. but it's a terrible decision. deposits under 100,000 euros. also it is a decision fueled by germany. the german public is angry that

germany is bailing out. they consider it irresponsible. so basically they forgot that cyprus is a sovereign country. it looks now as if it is going to reject the decision because it's not good for them. and because the people who had to vote have to be re-elected. >> do you have friends, family that's over there? >> i was born in greece. >> they're close neighbors, right? >> we're close neighbors, absolutely. and the majority of cypriots agree. and a little known fact is that aphrodite was born in cyprus. did you know that? >> i did not. >> i didn't know gods were born. >> born at the place where

kronos had sewn the severed genitals of his father. >> what? what did he do? >> he cut off the genitals of uranus, his father and threw them into the sea. >> that's what people feel this bailout feels like. >> the russian oliog worry. >> you think this is rough? read the greek myths. >> it would help if they had capitalized, some type of capital structure. >> if you look at iceland, ireland, cyprus, three islands, they became hubs for international money. and they didn't really have capitalization to be able to deal with it. 80 times bigger than cyprus gdp

is its banking sector. >> they let their standards slide at times. >> my favorite piece of data is that cyprus's gdp, 25 billion euros -- dollars, dollars is half of apple's quarterly earnings. >> right. and it shows you the contagion. and there's 27 countries that you've got to worry about at this point basically. now, we didn't see any real problems with spreads. >> right. >> did we? >> no. nothing's happened. >> no lines. and the line we showed yesterday in cyprus looked like about four people. >> well, we've got to see. when the banks reopen there, things may change. we just don't know.

we don't know. >> i don't know if it would happen right away or if this is something longer down the road, what they decide happens with some of these things. >> the greatest danger is what happens to all the young people in cyprus, greece, spain. we're talking about half of young people in many european countries are out of work. this is going to have consequences. there's no question about it. >> it's russian money. have you dated a russian? >> no. have you? there are some women. >> do you know some, don't you? >> yes, i know some. and you do too. so does andrew and so does becky. >> i don't know any. >> i don't believe that. do you believe that? >> we had a couple on the show. >> you don't know them? >> no. they spend money -- i understand like if you go to monaco, that

those guys, the yachts out there -- they have two yachts. one where you go for your politician where everything is aboveboard. if you go to the other yacht, that's the stuff the other stuff happens. you can't be caught dead. >> they dock right next to me. >> part of the reason for going to the small investor in cypress is so you didn't smack the guys that really matter. wasn't that part of the whole rationale? >> yes. it showed that cyprus wasn't willing to stop the financial successes, that it wanted to continue to be a player in the kind of money laundering that's going on. so it didn't want to have a double digit haircut. these people who made this decision had to be sleep deprived. >> we're getting back to this meditating. >> this is not a thoughtful

decision. what did he call it? sleep deprived decision. >> absolutely right. >> i have a huffington post question for you. >> yes. >> your views, how often are they the same and how often are they different? on this issue, huffington post seems angry. >> on cyprus? >> on cyprus, angry. even on our u.s. economy, angry. there's a visceral thing that goes on on site. >> i wouldn't say it's anger. his piece on cyprus happens to be exactly what i said, a stupid decision, a decision that could have terrible consequence. we don't know yet. it's still unfolding. if you look at the u.s. economy our main problem is nobody is really talking about job creation. that the biggest threat that we're facing to the future is the fact that we still have

really 25 million people unemployed or underemployed. that's a much more serious problem. >> the fed is talking about it. >> washington is not focused on it. and the whole sequester debate, the real crisis is the jobs crisis. ironically when people leave office they begin to talk about it. like samuels. he's been talking more about the fastest way to reduce the deficit is to grow the economy. >> right. arianna is going to be sticking around. we'll continue this conversation after a short break. >> coming up, mindful leadership. today's corporate leaders will try to increase innovation, productivity and wellness among employees. and money madness is here. we're looking at some of the most widely held stocks and letting you know which will come out at the end of the year. and two mobile giants. "squawk box" will be right back.

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former chairman and ceo of medtronic is champion of intraexpectative practices. jeff sign field associate dean at yale university school of management. arianna is our guest host today. she is still with us. bill, let me start with you. you will be a champion of this entire mindfulness argument. what is that argument and tell about how you think it makes a difference in leaders. >> we live in a frenetic society, 24/7. i must confess i'm 24/7 involved. there's a lot of stress. how do you retain resilience? i found mindfulness the way to do it. i started meditating in 1975. i think it's helped me calm down, have more clarity and focus and frankly be a lot more productive and a better leader for the people i work with.

we have been teaching at harvard business school. 800 students that go through it, mbas and executives. it has a very big impact. we don't talk about meditation but mindfulness and how do you find the passion and the power within you to be an effective leader and how do you convey that to your people? >> how do you do that with real examples. how do you make the students think about this in real times? >> i think you need an intraexpectative practice and honest feedback. every day we need to pull aside pore 20 minutes and think what is really important today? i found when i do this i get my greatest clarity. if you don't have some form of practice. maybe it's journaling or diary or praying or talking to a loved one. but something where you really think about it and focus on what's important. because you can't be scattered

brained all day. >> you can do that on a treadmill. >> yes. >> i swim. >> you can take a walk. >> when you swim it's the same thing, right? >> it is the same thing. >> you know what is interesting, and you've been involved in so many years, what is interesting is there seems to be a tipping point. in davos, for example, you saw suddenly all these sessions around mindful leadership. you saw buddhist monk walking by teaching meditation to ceos. a psychology from oxford talking about mindfulness. tell us a little bit about what you see as this critical mass tipping point around this issue, around american corporations. >> arianna and i were doing a session with young leaders. they were really a caught up in it.

general mills has been a p pioneer. aetna on the east coast. there have been studies on this. so i see what's happening. one reason it's happening, it's going to improve your long-term bottom line. >> i can't imagine huffington post saying praying -- >> are you kidding me? we have a fantastic section that covers praying. no difference in prayer and meditation. no difference at all. >> jeff, do you buy into this? >> you know, believe it or not, i do. i often come in as a cynic of the new thing of fads. i don't think that's what's going on here. we all remember the art of

japanese management and even getting into caye zone practices. there's a book coming out on corporate purposes these days, empowersment. the whole self-directed, mind expanding things we have done in the '60s. there's a lot of this in the west too. john paul was worried about the mindfulness of the stone and we need to get perspective. general mills and google and others that are more cutting edge in technology and style. ceos of goings, tupperware.

sheryl sandberg was a yoga instructor. >> jeff, jeff. hold on. all those people that you're mentioning, and this is a problem i'm curious too. i talked earlier about the culture of an solution. when you're ceo, you manage your own time. if you need 20 minutes to meditate you can probably organize around it. if you're a young analyst on wall street, for example, or engineer that has a problem that's due tomorrow at 1:00 p.m. it's not so clear you can died, okay, i have to go take my nap now. i have to meditate. then i have to go to the gym. and i can tell my boss it's just fine. >> andrew, that's a really important issue. he named the the champions. and he was a champion. brought it in the exxon mobil. brought it in to goldman sachs and places where you're involved

is hard if it doesn't take root in the culture. in yale, we have annan throw policy that teaches yoga. we have scores of students coming out for it. we have a two-year leadership program. a general is in charge of west point in charge of the behavioral sciences program. our new emotional intelligence. there are ways of getting 360 perspectives. >> andrew if i can interrupt here, need to have practices every day. i always meditated early in the morning and then late, late in the afternoon or evening when you have time. and i stay focused. by the way, i have a lot more energy to go hard until

midnight. it issue ceased my energy and productivity. >> there's an awful lot of fast literature on exercise that can do it. or prayer. >> thanks, becky. >> when we come back -- >> they made tate on one point, money, money, bonuses, money. that's the mantra. 16 of the most quick stops to cnbc going head to head. what you think is going to happen. up next, the the results of yesterday's battle between netflix and apple. and today's mobile matchup between blackberry and nokia. [ kitt ] you know what's impressive?

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turn that off. the music. turn that off. the music. we tabulated your votes in the battle of netflix versus apple. and apple won in a landslide. 83% of the votes on our facebook page. when we do this, things are overloved you can't just automatically say that means apple is better, right? >> what are you choosing in the next -- >> our squawk's cnb c-webb site, the battle for mobile. that is of course blackberry versus nokia. >> who are you giving it to? >> joining us on blackberry -- >> you don't have opinions?

>> stuart jeffrey, telecom analyst. mark, tell us -- just to play along with us, if you had to do this in march madness, would you pick one way or the other? >> i'm underweight rated on blackberry. equal rate on nokia. >> i thought everything about the blackberry 10 was above play on that? no? ? >> the question is how strong is the plan. >> right. >> what was the original plan. >> right. nokia a while ago seemed like it lost its way. how could they possibly, other than being a commodity, how do they get back in the game? >> yeah. for nokia, it's funny. i thought i was called to talk about blackberry. there's more to nokia than just the hand sets. i don't think the hand sets will do well.

there's salvage value for the location and mapping business and infrastructure. i'm not terribly optimistic on nokia. but i think it can out perform blackberry. >> we called you for blackberry but you're negative on it anyway. i don't know how that works. what about you, stuart? are you positive on the stock we got you to talk about? >> i do think in the near term there's potential for sold out performance. they've got some growth in the smartphone business and that might take it higher. it is extremely uncertain. and i think both face some challenges. on blackberry in particular i think it is out of kilter. >> in march madness, one team has to win. so these are both losers basically is what you guys are telling me. you don't either one to go to

the next bracket. they shouldn't have made the tournament. >> pure tournament candidate. 40% share in phones to 3.5% in smartphones now that computing has taken over. the good news is legacy staff has almost bottomed out. now we have the new windows phone that should give solid growth for the next two quarters. the question is how big and how fast will that positive momentum continue. it's hard to get too excited. they're not doing good with windows 8 or windows phone 8. you can see the next three, four quarters there should be growth in revenues and that constitutes a proper turn skwrarpd. the problem is how much confidence can they get out of people in the next few skwaurters. if things go ahead of plan, then it could work would you sell the

stock short or just not hold it long? >> i think at 15 it's about $8 billion market cap. strip out the cash, $5 billion. it's not crazy expensive. but we think the new blackberry 10 phones are late. we think you have competition that's really moved forward so that android and apple phones you can get them in the enterprise with all the security that blackberry has or had. private companies really advanced that area. one thing i would add is stuart's comments. the stocks are going to be volatile because you're talking about 800 million smartphones plus at a rapid clip. so any sign that they turn around is going to have the street's view of earnings power swing pretty quickly. and so i think that's part of why you see blackberry have a pretty strong mood, optimism going into the new product launches.

it is kind of driving some optimism. >> i wonder how long like we have becky, arianna, they carry two because of the stupid keyboard. >> i have a mini ipad. >> you have an iphone. >> four blackberrys. >> you have four blackberrys? >> yes. i love my blackberrys because of the keyboard. >> guys, thanks for playing along. appreciate it. i guess people need to vote on cnbc.com. coming up, we'll continue talking about the cyprus bailout and what it all means when we return. [ engine revving ] ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just stay alive... but feel alive. the c-class is no exception. it's a mercedes-benz, through and through.

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cyprus scramble to go renegotiate the terms of a bailout. has the damage already been done? >> squawk ceo call is in session. government grid lock on the deficit. ryanair announcing it will buy 175 new boeing 737s. >> okay. i'll buy from you. >> what? >> ceo michael o'leary will join us on set. he generated controversy when he proposed pay toilets and

standing room-only flights. ♪ welcome back here on cnbc. co-founder and editor-in-chief of the huffington post. more from arianna in just a moment. we were just looking at phil jackson. that's how the bulls did it. being in the moment. >> he brought medications. >> they were sleeping 10 thundershowers a night. >> stanford research -- i was just sharing this data with this major skeptic. >> it showed when they put basketball players to sleep 10 hours at night their performances in practice dramatically improved.

free throw and three point shooting went up 9%. >> i don't doubt it. i don't get six hours a night. >> all these things maybe could be avoided if people were not so burnt out. >> they are talking about people sprinting for 30 seconds. you do 10 hours to get your one hour. all of us are working 12, 13, 14. these full days. and so it doesn't always work. >> the point is what is the real high performance? when do you perform at your best? when do you have your most innovative ideas? if you don't want to listen to him, listen to steve jobs. he said his best ideas, the ideas that led to the iconic apple products were produced during or after zen meditation sessions. what else do you need, guys?

apple. phil jackson. >> i'm not arguing with it. it's the reality of trying to find the the time. you're right. i don't argue at all with any of the statistics that lay it out. we need personal approaches to set up our lives differently. >> afternoon nap. >> i am in favor of those. i take those whenever we can. >> the major equity indexes closing lower in large part because of fears of the cyprus bailout plan. dow down 62 points. it remains on track for its better quarterly percentage since fourth quarter 2011. s&p still up 9% in 2013. it's on track to post its best quarter in a year. they continue to pick up steam. the dow futures up 36 points above fair value. if you look overseas in asia you saw a snap back after big declines yesterday in japan -- or the day before in japan nikkei up 2%.

it's a bit of a mixed picture. ftse is slightly higher. did dax and cac are slightly lower. ryanair announcing a deal to buy 175 now boeing 737-800 planes worth $15.6 billion at list pricing, the largest ever aircraft order from a european airline. michael o'leary will join us at the bottom of the hour. >> are you okay? >> i'm okay. >> you've been eigating some baklava. >> nothing wrong with that. >> that's right. parliament in cyprus expected to reject the tax on bank deposits. that would effectively block a bailout. then what? push the nation closer to a debt default and possible banking collapse. 10% of banker deposits could be

withdrawn within days of reopening. joining us is senior european analyst at jeffries international, chief investment officer. marcel, how much does the whole russian connection play into what we see happen anything cyprus right now. >> it matters a lot. a lot of pressure coming on cyprus from russia. they do not want citizens to be taxed to such a great extent. it will be a lot easier if it were a european only matter. it makes things more complicated than they need to be. >> how much had to do with the negotiations ongoing about the $2.5 billion in debt to russia at this point? >> it's one of those things

hanging over cyprus. they need to be quite careful. bail in is the new bailout in europe. the idea that somebody has to take a loss and it's not going to be sovereign bondholders. cypriot citizens or russian citizens, somebody has to find a way to make the numbers balance out. $2.5 billion loan that cyprus owns to russia. that complicates matters. we'll get out of it one way or the other. but the next day, the next week could be quite complicated. as you said, if the package gets voted down the question is what's after that? what's the next thing they will be voting on. >> allen, in considering all the different ramifications of this it occurred to me when we talked about cyprus and the banking system, the country itself and the banking system, talk about too big to fail. it should be possible in most

countries to let banks fail. now i understand why. everything we're talking about is not about the banks. it's about cyprus not being able to pay its debts, right? >> it is the hit taken by small depositors with less than 100,000 euros. it's obviously equivalent to a haircut. and it just drives horses through the deposit insurance scheme introduced after the lehman collapse. and that raises some real question marks. and i think the europeans are playing a very dangerous game here. cyprus may be very small but you only have to see that this problem could potentially spill over to other countries. and if people start taking money out of banks, well, you know where that leads us to. >> alan, let's talk about that. a lot of talk over the the weekend we would see bank runs or at least some movement on monday, not just in cyprus where

you can't take your money out because the banks are closed. but italy and spain, we haven't is seen that. what is the tipping point for you? if, for example, in cyprus they get after going after money that is still insured, if that's possible, does that change anything? >> moving your bank account is not that easy. so it's not something that you should expect to see happen overnight. but, you know, we were seeing during the course of last year in many of these countries, both combined, current and capital account deficits at the same time. we were looking at bank assets flowing, bank deposits flowing out of italy and spain. now, that turned around about the end of september. for the last couple of months or so -- the last four months we saw some restoration of private sector flows back into these countries. i'm just concerned that this may once again lead to some disturbing is capital flight out of europe in some of the

peripheral european markets. >> i guess we have to keep it short. you know, if a bank fails, people that don't have insurance lose their deposits. there's no capital structure that they are subordinated to that. normally you would hit them first. banks need to be able to fail, don't they? >> they do. sorry. we're done with that segment. >> we'll have them back with more of their thoughts. the federal reserve back in the united states is kicking off its two-day meeting on interest rates today. that of course means we also have the results of the latest cnbc fed sraeur. steve liesman is here. >> the headline in the last hour we showed you that the market is expecting the fed to increase the amount of quantitative easing. what is becoming an increasingly important part of the survey, what wall street expects from washington. the first thing is a pretty

profound development, which is this idea of what will congress do when it hits the debt ceiling. you can see the past two surveys, nearly 90% of respondents think congress will raise the debt ceiling every time it's reached. let's move on to what wall street thinks -- will they consider with the sequester? yes. will it consider and change the makeup. 33% say yes. should it increase spending cuts? 21 #% said. bottom line, only 17% a year think congress should reduce the spending cuts. if you add all of this up together, what you find is a large number who believe congress should keep the plan but they want a little flexibility. how urgent is it? 80% of the march survey said

congress should urgently enact a sustainable deficit plan. that has come down to 67% with 25% agreeing that it needs a little more time. that group of respondents, 54 of them market participants say that they should be reducing the deficit. here's some of the can comments. the only thing the economy has to fear is washington itself. an interesting comment. the public wants less cutting of the budget. they are seen as positive. the boost of confidence has a greater positive gdp impact than the the negative gdp impact. and it's the federal government, stupid. washington, he says, is a side show. the fed is on autopilot. interest rates coming up at

10:00. >> we'll talk more about the housing as well. aetna chairman will talk about strategy to deal with uncertainty in washington. and we'll talk a little more sleep with him. as we head to break, here's what he had to say about his company's plan ahead of the fiscal cliff negotiations at the end of last year. >> we have a head count holding flat assuming we don't go over the fiscal cliff. if we go over the fiscal cliff, i have to react. so i know where i need to pull back. ♪

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welcome welcome back, everybody. the chairman and ceo of aetna, thank you for being here. it's great seeing you. >> how are you, becky.

>> good. people have come on the show and said because of obama care premiums are going down. you say get ready for sticker shock. >> i think the economy has driven that. and people fear of unemployment and slower economy people have less disposable income. so i think as we look forward i think the big impact is going to be on the individual market. as i have said before, based on all the things that we need to do, raising actuarial benefits from below 50% up to 60%, that's a 20% increase. including taxes and fees put on the affordable care act to pay for the people who are uninsured. that's another 5.5% to 6%. and normal trend, all of a sudden we're at 32% on average. >> if someone is trying to renew their health care coverage, they

can expect 32% more? >> on average. >> what if they didn't have $64 -- you saw that early last week. insurance companies that ask corporations to pay that because you have to cover people that are really sick. how is that going to work itself out? why do you assist on that? >> we didn't insist on that. that's part of a reinsurance program to take care of people who are uninsured coming into the program. so that is a reinsurance fee. and we did not decide who it applied to. it got applied to every employer and every employee across the united states, whether they were self funded or fully insured. >> you see what's happening, right? >> sure. >> the ones that have some sway with the administration. do you expect some of these people to get waivers on that?

i do. >> i think what happens, joe, is the result is that most people who want to change this bill now they have that they have read it, the moment we begin to touch the affordable care act, which has not been touched other than by regulation, you have to start with legislative changes. i don't think this is going to happen any time soon. instituting legislation as written is the law of the land for now. >> meaning that you're going to be seeing these huge increases. what do you hear back from some of the big employees when you tell them 32% more than you did last year. >> it's not the large employers, becky. it's the individual market and small group market. this fee of $64 a year goes to every employer. not just large employers. >> what do you hear back when you tell them this? >> a lot of them are surprised. that was part of the legislation that was passed in 2010.

>> but do they think you're the bad guys? >> no. we explain where it comes from? >> mark, i would love to ask you about what you have described as your mission to make a all the mindful business benefits that you have brought to the 34,000 aetna employees to make them part of the benefits that they get. would love to hear how that mission is going and what you think some of the next steps will be. >> arianna, that's a great question. >> when employees are stressed their health care costs are $2,000 higher. it has an impact on their health. it has a microbiological impact

on their health and the way we fight and resist illness. so one of those statistics, the second statistic is that it impacts productivity. so what we did is took a study of our employees and put them into mindfulness and yoga. we put this together for 12 weeks. we saw dramatic drops in stress after the program was over and a 69-minute game of productivity in our employees over a year. the the result for us was an 11-1 return on investment in having people who are more productive, people who have less stressed and reduced health care costs. it all added up to $3,000 for employees. the other part we couldn't measure but that is far more important is being present in the work environment.

making better decisions for the organization. depending where you are in the company, they take a longer time to have an impact. we will see that over time. that's the importance of having mindfulness and a personal practice in the workplace at every level in the company. >> mark, you do yoga yourself as well? >> yes, i do. every morning. >> i was telling becky and andrew about your personal style. your ski accident, broken neck, falling down ravine and spending a year on painkillers until you discovered yoga, meditation, acupunctu acupuncture. tell us a little bit about that personal journey. >> well, i think until i had to find my way through a health care system that's really not a system and had to struggle with a debilitating neuropathy.

i have it. terrible pain down my left arm all day long. the medical system gave me drugs. the disability system told me to go on long-term disability. they told me that the best hope for me was to live a reasonable good existence on disability payments and to deal with my pain, to focus on my pain. when you read the literature it says be active at work and have a purpose. i couldn't do it on the seven different drugs, most of which were car cot eubgs to try to control my pain. i did cranial sacral therapy, acupuncture and yoga. it has created a cocktail for me that allows me to exist in a relatively pain-free world. still have my moments. without any drugs. and i can be highly preufbgt l as an individual.

it's actually very important on getting people productive and back to work. what if we applied this in the workplace? with my partner mauery and the people from yoga and emindfulness, we put this together to prove it. of course the rumor running around this place is because mark doeseo ya, now we're going to all do yoga. this is crazy. but they have seen the results. 6,000 employees have been through the program. we have had great effect. >> thank you very much for joining us today. always a pleasure talking to you. hope to see you again soon. >> thanks, mark. breaking data. housing starts due at 8:30 a.m. eastern. an increase of 1.6% after january's decline of 8.5%. ...amelia... neil and buzz:

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when when we come back, we have breaking numbers on the housing recovery. just a few minutes away from the housing starts. as we head to break, take a look at u.s. equity futures. they have been building through the session. dow up 38 points. s&p up by 5. we'll be right back. [ male announcer ] i've seen incredible things. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand

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welcome welcome aback to "squawk box". we are seconds away from housing starts in february.

forecasters expecting an increase of 1.6% after the decline of 8%. that was a big decline. we've been watching them build through the morning. right now dow futures up by 38 points. s&p up by 5. rick santelli is standing by at the cme in chicago. steve liesman is with us. rick, take this away. >> all right. february starts 917,000 saar. season wise, annualize adjusted rate. permits, 946,000. that's up $4.5%. starts up 0.8%. how does this figure in 9.17. at the end of the year we had 973 number. it now stands at 910. permit side, 946,000 is a pretty good number. as a matter of fact, that's going to take us all the way

back to '08 since we have had a better number. permits, what may be down the road is rather encouraging. this is pretty much a big reversal from the national association of home builders sentiment which backtracked to fall levels. this is more substantial in terms of data points. where is the yields? pretty much exactly where they were yesterday. after the cyprus issues, we fell in the mid-190s. it's like we nailed it to the wall as rates pretty much stayed there. the equity markets of course looking like a positive number. statistically, you know, don't bat against deposit of opening especially when you look at the current run for the month of march. and as far as foreign exchange goes, we see that the euro is hovering 129.5. as if cyprus never happened. back to you. >> all right. stick around. let's bring in steve as well. steve, these are good numbers. >> they're really good numbers.

and i think what the bottom line on this is housing will make up an important contribution of growth. it will make a contribution to appointment. i can't verify but it's good source that takes five people to build a house. every time we build another house or get up to 917, let's not exaggerate this. >> does that include all the effect of home depots, lowe's? >> it's an all-in number. totally driven by multifamily. it was also single family up from 584 to 600. 320 to 346. as high as 980 in december. that might have been weather related. i thought because of the storms in the northeast but it was up. down in the south. maybe some of the weather there. the main issue if we can get back to a steady level, steady

growth rate we could put some of that idle part of the economy, both capital and labor, back to work. and this ends up really creating a virtual cycle in the economy. >> there is still all this talk about the overhang, how you have foreclosur foreclosures. when you hear numbers like this, have we worked down enough of the existing supply? >> i think there is still a pretty big existing supply out there or overhang. i think the question is what that status is. some of that investors have stepped forward. investors being in the market. if you think about it, it's a halfway house for houses. it's not off the market at that point. there's also shadow inventory. people take their property off the market because they're not going to get a decent selling price. i know in my neighborhood we're close to new york city and we have had, by the way, a population growth. you see that for the first time since 1950s. so that's helped out.

by the way, that's all the housing market is. we add this up to a national figure but it's anecdotes, region by region, block by block, zip code by zip code. rick, what's going on on your block? >> i don't see any great recovery in the city proper or suburbs. now, that doesn't mean i don't see less signs and the market isn't better than it was a year ago. it is. but it certainly isn't matching par with some of the anecdotal stories across the country i hear on the more positive side. and i do think that the correction in some ways is being overplayed. and i think shd dough inventory is larger than people think. i still think that the housing recovery is under way. there's a huge difference. being an old technician you look at things a little different. having a bottom and having something turn up is one issue. having the objective for

significant takeoff off that bottom is a completely different issue and horse of a different color. i don't think it's the latter but i do think it's the former. >> i think, rick, you can't underestimate the confidence part of this. when people see housing prices stable it really helps. >> there are still millions of homeowners under water. that's having a big impact on how much they are spending on their own confidence level. what's happening -- >> if you read morning money there is some talk in washington -- you guys talked about this. demarco getting a guy out of the way. >> oh, my god! isn't that terrible. so the terrible doesn't believe housing is recovering very well. demarco is the line between the sane and the insane. >> it is not a very strong line, as you know. i know it's used me the ta

forically. >> they would recover faster if they removed him earlier. >> you don't want to go out and say home owners don't have to pay back on the loans on some of these things. >> if we're not careful with this use of imagine tphal line we'll start with french jokes with joe. >> right now i sort of feel bad. >> for the french. but you have about a dozen. >> it's a serious issue. one reason the federal reserve is buying on a monthly basis, driving down mortgage rates. and you get to a place where some of these people at the margin. however, when you are way under water, which i guess is way like that, then it's hard to even qualify with a rate of 3.75%. that's why some people believe,

i know not my friend rick, there's a nexus for government. >> steve, rick, you guys, thank you. coming up, ryanair announcing a major purchase order. michael o'leary is making his way to the squawk set as we speak. he's standing there. we're going to have him first at cnbc in a moment. morning, brian!

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welcome, back everybody. dsw earning 69 cents a share for the fourth quarter, three cents below estimates. revenue missing expectations. and amrisource pwurgen has struck down a 10 year deal with walgreen's. it gives walgreen's an alliance boost up to 23% stake in the drug distributor. >> welcome back. earlier this morning ryanair announcing plans to buy 175 new next generation boeing airplanes. one of ireland's wealthiest businessman. you said you don't have a plane? >> i'm rich because i don't waste money on flights. >> when you flew over, how did

you fly over here? >> the easiest way to get around. new york was easier. >> so you just bought a lot of airplanes. walk us through. >> boeing 737, then generation, value $16 billion. good newsday for boeing despite some of the commentary. >> how much of a competition was it with airbus? >> not a lot really. look at the economics on the 737, 800 is 189 seats. the nine extra seats 365 days a year are compelling advantage for boeing. ryanair has a lower cost than anybody in europe. >> how long to make a decision like this? how much courting is going on? >> we have been at this six months. there's a new management team on

the commercial airplane side. they're very impressive. it's credit to them they are able to do a deal with us at a time they are managing a lot of regulatory crack here on the 787s. it's taken about six months. >> you sound pretty skeptical about the questions that have risen. >> i have the right to be skeptical. there's almost no new aircraft type. if you go back to the a-380 with the engine failure on the wing. it's a new technology. it's being introduced. >> would you want your passengers flying on those planes? >> i would have no difficulty. they love boeing. we in ireland love being. they have been making great aircraft. everyone will have forgotten there was a legitimate up battery on the 787. meanwhile, they are still making a aircraft in record numbers. it is missed by some of the

market. boeing are delivering record numbers of aircraft. 737 record deliveries. >> right. >> the stock has hung on 678. >> famously said you want to reduce the number in your airplanes down to one. are you going to do that on these new boeing planes? >> unfortunately, arianna, they won't let me. i keep trying to take out the two rear toilets and add seats. there is a fuddy duddy in the faa saying you can't have six extra seats because that would lower the airfare again. >> we had bill miller last week. he said stocks for the first time now poised to take off, if

they haven't already, and now that there really is no competition this could almost become the railroads. you were an insurgent upstart s. there a possibility come back into this market and make prices competitive? the type of prices you offer may not be available in the future for the u.s.? >> our average father is 40 bucks, half for southwest here in the u.s. it's much more difficult for an upstart to emerge in the u.s. where you have strong airfare like southwest, jetblue i wouldn't describe as a low airfare airline. spirit air. you have consolidation in the big guys. >> is that a good thing or a bad thing. >> it's probably a good thing. you have to be able to connect.

on the domestic stuff in the u.s., european aeurope, it's all going to go point to point on ryanair the next couple of years which is why we need new aircraft orders from boeing. >> now, ryanair, i always wondered, where does the name come from? a mystical old royal family called the ryans who started up the aircraft leasing industry. they were one of the original wealthy irish families. they started it in 1995. >> i think o'leary air is. >> what's the farthest you fly

right now. >> five hours. that's about as far as you go in europe. the canaries off the south coast of spain to scandinavia, central europe, to poland and places like that. typically the average flight is an hour and a half, two hours. we're doing that $40, making a net margin of 10% and have for 22 years growth. >> how do you do that? >> really talented senior management. >> no, really. >> and a dose of humility. >> why are you able to do that and no one can come anywhere near? it's double. >> boeing aircraft, again, because you have the extra seats being kind of messy annual about costs, doing crazy things like take out the two rear toilets and add six seats because we can genuinely lower everyone's airfare. >> you want to do standing room only? >> why don't we allow it since

we allow it on trains and in the undergrounds in london. i would like to see it be free. why not make the seat on board free? one of the obvious waysis have it part of the cabin where you have a standing room area. you have student fares and all that. you were standing on the back of trains. persuade the regulator. at least try it. if we had a standing cap for a buck and a seat for 25 bucks, which do you think we would sell first? >> do you fly to cyprus? >> we do. the largest airline in cyprus. we overtook cyprus air in about a week. >> you shut it down a year ago.

why? >> there was always a danger there would be some kind of run on cyprus banks. it is madness. you can't go and steal people's money out of banks. by all means what they have done is raise taxes. but you can't go in and steal people's money. i think it undermines the entire -- >> can you explain the difference between that? >> at least if -- >> i say don't do any confiscatory stuff. >> you undermine the whole european banking system. if people can't rely on -- at least that money is safe for banks. >> do you have acts in italy and spain? >> yes. number one in italy. we have had conversations. we haven't had any meetings yet because i have been buying airplanes. i think what they have done is a

deeply retrograde step. >> uk will stay out. there it is. >> probably right. to be fair to europe, a common market makes a lot of sense this. whole european market has proven itself wrong time and time again. >> airline stocks are about to take off. >> i did. >> can you start writing copy for us? that's a talent to be able to combine. >> thank you. >> that's like a pun, right. >> michael o'leary, thank you for being here. >> thank you. >> great having you here. >> anyway, coming up -- what if there's turbulence? you would break your neck. would it work? >> in europe you don't have that kind of turbulence. we don't get the storms you have in the midwest. >> there's times i'm trying to get to the one bathroom. there's marbles on planes on

board just for you. tomorrow, "squawk box" will keep you up to date on the banking crisis in cyprus. the latest from the fed and the plus the squawk ceo call is in session. chief executives from cedexo anr special guest. "squawk box" starts tomorrow at 6:00 a.m. eastern. take a quick

charter communications. liberty media is buying a 27.3% stake for $26 billion or 95 cents a share. the the deal is imminent. >> what's the next big thing? right now there's a lot of interest in, of course, apps and our next guest is the go-to source for silicon valley decisionmakers. joining us from san francisco is nicholas from app annie and it ranks research and publishers and we've been trying to get him on for a long time. thank you for being with us, nicholas. >> thanks for having me. >> if you can name the top three apps, hottest next-gen that we need to know about. >> okay. so i would take a look at young lee which is a news aggregating

app that has been doing good right now that has a good interface. i would take a look at linkedin and its sister app which is card munch allows you to take pictures of business cards and upload them to your account. >> i've tried this, by the way. it takeses a while to get it to come back. you take a picture of the business card and it supposedly scans it and a real person looks at it first and it could take a week or two. >> yeah. it can take a while if actually the card is not recognized instantly. it is bad because you have a live person, indeed, that actually will have to input it so it might take a while. >> we have our anna huffington here. what apps should she buy? she runs huffington post and they have money with aol behind them. >> actually -- hi, how are you? we launched an app at ces in las

vegas which i would love you to try and give us your opinion. it's called gps for the soul. it gives you a proxy for your stress level and your heart rate variability and then you can launch a guide that has you course correct. you can personalize it with the thing s that you love and the things that make you feel centered and unstressed. your pictures of your kids, pictures of andrew and john and becky and music, country music if you like it. >> nicolas is that ranking in any? >> probably. it it's the top 1,000 it will be ranked. we rank every single category in every single country in the top 1,000. >> joe downloads apps like crazy. >> i have been. i downloaded a skiing app, nicolas, alpine. it wasn't as good as the one my kids have. do you have those ranked? it measures how many runs?

>> i would say in the sports category, especially right now it's the season so they're probably ranked in the top 1,000, yes. >> my other question is navigation. we have a board and i don't know if we showed it. we have google maps as the number one mapping app ask then mapquest and then this thing called ways, but want even apple maps is not even on that list. why? >> well, you know, google map is definitely on top of the list because google map used to be pre-loaded on every single ios devices. it's not anymore. so a lot of people that have eos devices are going to the store and downloading google map because they are used to the application and like the application better than what they have on their phone and they go to download it. that's why. >> nicolas, thank you for joining us. we have a list that we just showed everybody and we'll do an update of that. >> thanks for having me. >> appreciate it. >> when we come back, the stock of the day, is it in your portfolio? we'll find out right after this.